“The year of 2014 will be remembered as the year of the data breach. Hackers struck numerous large corporations, from Target to Home Depot to JPMorgan Chase.
These breaches have led to increased regulation for financial institutions at both the federal and state level. In fact, it's safe to say that 2015 may very well be the year of the cyber rule. Among the most prominent developments is the Federal Financial Institutions Council's announcement that it will update cybersecurity guidance in 2015. State initiatives are likely to follow. New York's Department of Financial Services, for example, has given notice that it too will implement more stringent examinations of cybersecurity governance.”
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